M. Ayhan Kose

Development Prospects Group at the World Bank

Director

1818 H Street, NW

Washington, DC 20433

United States

SCHOLARLY PAPERS

69

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CITATIONS
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1,024

Scholarly Papers (69)

How Does Globalization Affect the Synchronization of Business Cycles?

IZA Discussion Paper No. 702
Number of pages: 18 Posted: 16 Mar 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 2,392 (4,115)
Citation 62

Abstract:

Macroeconomic Fluctuations, Trade and Financial Integration, International Transmission of Shocks, Cross-country Comovement of Output and Consumption

How Does Globalization Affect the Synchronization of Business Cycles?

IMF Working Paper No. 03/27
Number of pages: 14 Posted: 28 Jan 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 116 (204,371)
Citation 62

Abstract:

Macroeconomic fluctuations, trade and financial integration, output and consumption comovement

2.
Downloads 941 ( 19,254)
Citation 162

Financial Globalization: A Reappraisal

IMF Working Paper No. 06/189
Number of pages: 94 Posted: 03 Oct 2006
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 852 (21,950)
Citation 162

Abstract:

Capital Account Liberalization, Financial Integration, Growth and Volatility, Financial Crises, Developing Countries

Financial Globalization: A Reappraisal

NBER Working Paper No. w12484
Number of pages: 91 Posted: 30 Aug 2006 Last Revised: 13 Aug 2010
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 55 (323,726)
Citation 162

Abstract:

Financial Globalization: A Reappraisal

CEPR Discussion Paper No. 5842
Number of pages: 93 Posted: 16 Nov 2006
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 33 (400,264)
Citation 162
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Abstract:

Capital account liberalization, financial integration, growth and volatility, financial crises, developing countries

Financial Globalization: A Reappraisal

IMF Staff Papers, Vol. 56, No. 1, pp. 8-62, 2009
Number of pages: 55 Posted: 07 Jun 2010
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 1 (583,631)
Citation 162
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Abstract:

3.
Downloads 715 ( 28,710)
Citation 82

Financial Integration and Macroeconomic Volatility

IMF Working Paper No. 03/50
Number of pages: 28 Posted: 22 May 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 715 (28,256)
Citation 82

Abstract:

globalization, business cycles, volatility, macroeconomic fluctuations, emerging markets

Financial Integration and Macroeconomic Volatility

International Monetary Fund Staff Papers, Forthcoming
Posted: 22 May 2003
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)

Abstract:

globalization, business cycles, volatility, macroeconomic fluctuations, emerging markets

Changing Nature of North-South Linkages: Stylized Facts and Explanations

IMF Working Paper No. 07/280
Number of pages: 59 Posted: 27 Dec 2007
Çiğdem Akın and M. Ayhan Kose
Johns Hopkins University SAIS International Economics Program and Development Prospects Group at the World Bank
Downloads 333 (74,570)
Citation 10

Abstract:

Working Paper

Changing Nature of North-South Linkages: Stylized Facts and Explanations

Number of pages: 56 Posted: 17 Dec 2007 Last Revised: 07 Feb 2008
Çiğdem Akın and M. Ayhan Kose
Johns Hopkins University SAIS International Economics Program and Development Prospects Group at the World Bank
Downloads 289 (87,670)
Citation 10

Abstract:

Business cycles, emerging markets, growth linkages, north, south, globalization, decoupling, divergence, convergence

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

IZA Discussion Paper No. 2903
Number of pages: 46 Posted: 20 Jul 2007
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 446 (52,488)
Citation 24

Abstract:

international financial integration, risk sharing, cross-country correlations of consumption and output, composition of capital flows

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

IMF Working Paper No. 07/238
Number of pages: 43 Posted: 20 Nov 2007
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 176 (144,411)
Citation 24

Abstract:

Financial integration, Globalization, Developing countries, Financial risk

6.
Downloads 614 ( 35,228)
Citation 45

What Happens During Recessions, Crunches, and Busts?

IMF Working Paper No. 08/274
Number of pages: 77 Posted: 18 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 453 (51,510)
Citation 45

Abstract:

Economic recession, Business cycles, Financial crisis, Credit, Housing prices, Stock prices, Oil prices, Databases, Economic models

What Happens during Recessions, Crunches and Busts?

Number of pages: 68 Posted: 22 Dec 2008
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 154 (162,455)
Citation 45

Abstract:

Business cycles, recessions, credit crunches, house prices, equity prices, busts

What Happens during Recessions, Crunches and Busts?

CEPR Discussion Paper No. DP7085
Number of pages: 78 Posted: 17 Feb 2009
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 6 (547,272)
Citation 45
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Abstract:

business cycles, busts, credit crunches, equity prices, house prices, recessions

What Happens During Recessions, Crunches and Busts?

Economic Policy, Vol. 24, Issue 60, pp. 653-700, October 2009
Number of pages: 48 Posted: 08 Oct 2009
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 1 (583,631)
Citation 45
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Abstract:

7.
Downloads 612 ( 35,384)
Citation 24

Financial Globalization and Economic Policies

IZA Discussion Paper No. 4037
Number of pages: 84 Posted: 02 Mar 2009
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 353 (69,592)
Citation 24

Abstract:

financial globalization, emerging markets, capital flows, capital account liberalization

Financial Globalization and Economic Policies

Brookings Global Economy and Development Working Paper No. 34
Number of pages: 80 Posted: 24 Apr 2009
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Development Prospects Group at the World Bank and Columbia Business School - Finance and Economics
Downloads 248 (103,342)
Citation 24

Abstract:

development, developing countries, global economics, global economic crisis

Financial Globalization and Economic Policies

CEPR Discussion Paper No. DP7117
Number of pages: 85 Posted: 18 Feb 2009
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 11 (520,137)
Citation 24
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Abstract:

capital account liberalization, financial globalization

8.

International Business Cycles: World, Region, and Country-Specific Factors

Number of pages: 31 Posted: 25 Apr 2000
Development Prospects Group at the World Bank, University of Missouri and Pennsylvania State University - Smeal College of Business
Downloads 546 (39,721)
Citation 130

Abstract:

9.
Downloads 363 ( 67,960)
Citation 36

Global Business Cycles: Convergence or Decoupling?

IZA Working Paper No. 3442
Number of pages: 53 Posted: 23 May 2008
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 179 (142,198)
Citation 36

Abstract:

globalization, business cycles, macroeconomic fluctuations, convergence, decoupling

Global Business Cycles: Convergence or Decoupling?

Number of pages: 51 Posted: 06 Apr 2008
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 115 (205,755)
Citation 36

Abstract:

Globalization, Business cycles, Macroeconomic fluctuations, Convergence, Decoupling

Global Business Cycles: Convergence or Decoupling?

IMF Working Paper No. 08/143
Number of pages: 50 Posted: 21 Sep 2009
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 45 (354,983)
Citation 36

Abstract:

Business cycles, Globalization, Developed countries, Developing countries, Spillovers, Economic conditions, Economic integration

Global Business Cycles: Convergence or Decoupling?

NBER Working Paper No. w14292
Number of pages: 53 Posted: 08 Oct 2008 Last Revised: 22 Jul 2010
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 16 (490,968)
Citation 36

Abstract:

Global Business Cycles: Convergence or Decoupling?

Bundesbank Series 1 Discussion Paper No. 2008,17
Number of pages: 76 Posted: 08 Jun 2016
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 6 (547,272)
Citation 36

Abstract:

Globalization, Business cycles, Macroeconomic fluctuations, Convergence, Decoupling

Global Business Cycles: Convergence or Decoupling?

International Economic Review, Vol. 53, Issue 2, pp. 511-538, 2012
Number of pages: 28 Posted: 23 May 2012
M. Ayhan Kose, Christopher Otrok and Eswar S. Prasad
Development Prospects Group at the World Bank, University of Missouri and Cornell University - Dyson School of Applied Economics and Management
Downloads 2 (571,970)
Citation 36
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Abstract:

Understanding Financial Crises: Causes, Consequences, and Policy Responses

CAMA Working Paper 05/2013
Number of pages: 23 Posted: 19 Jul 2013
Bank for International Settlements, Development Prospects Group at the World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 337 (73,799)

Abstract:

Global financial crisis, sudden stops, debt crises, banking crises, currency crises, defaults, restructuring, welfare cost, asset price busts, credit busts, prediction of crises

Understanding Financial Crises: Causes, Consequences, and Policy Responses

CEPR Discussion Paper No. DP9310
Number of pages: 24 Posted: 01 Feb 2013
Bank for International Settlements, Development Prospects Group at the World Bank, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 19 (473,565)
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Abstract:

asset price busts, banking crises, credit busts, currency crises, debt crises, defaults, global financial crisis, prediction of crises, restructuring, sudden stops, welfare cost

11.

Out of the Ballpark: The Global Recession of 2007-08 in Historical Context

Finance & Development, June 2009
Number of pages: 4 Posted: 09 Dec 2009
Prakash Loungani, M. Ayhan Kose and Marco E. Terrones
International Monetary Fund (IMF), Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 275 (91,595)

Abstract:

Dynamics of Business Cycles in Asia: Differences and Similarities

Number of pages: 42 Posted: 21 Jun 2000
Sungkyunkwan University - Department of Economics, Development Prospects Group at the World Bank and Brandeis University - International Business School
Downloads 227 (113,142)
Citation 12

Abstract:

Dynamics of Business Cycles in Asia: Differences and Similarities

Review of Development Economics, Vol. 7, pp. 462-477, August 2003
Number of pages: 16 Posted: 04 Sep 2003
Sungkyunkwan University - Department of Economics, Development Prospects Group at the World Bank and Brandeis University - International Business School
Downloads 28 (423,153)
Citation 12
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Abstract:

13.
Downloads 241 (106,970)
Citation 2

Financial Crises Explanations, Types, and Implications

IMF Working Paper No. 13/28
Number of pages: 67 Posted: 22 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 125 (192,987)
Citation 2

Abstract:

Sudden stops, asset booms, banking crises, credit booms, crises prediction., currency crises, debt crises, defaults, financial restructuring, policy implications

Financial Crises: Explanations, Types and Implications

CAMA Working Paper 06/2013
Number of pages: 66 Posted: 19 Jul 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 108 (215,390)
Citation 2

Abstract:

Sudden stops, debt crises, banking crises, currency crises, defaults, policy implications, financial restructuring, asset booms, credit booms, crises prediction

Financial Crises: Explanations, Types, and Implications

CEPR Discussion Paper No. DP9329
Number of pages: 67 Posted: 05 Feb 2013
Stijn Claessens and M. Ayhan Kose
Bank for International Settlements and Development Prospects Group at the World Bank
Downloads 8 (536,775)
Citation 2
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Abstract:

asset booms, banking crises, credit booms, crises prediction, currency crises, debt crises, defaults, financial restructuring, policy implications, Sudden stops

14.

Dynamics of Open Economy Business Cycle Models: Understanding the Role of the Discount Factor

Number of pages: 29 Posted: 19 May 2000
Sunghyun Henry Kim and M. Ayhan Kose
Sungkyunkwan University - Department of Economics and Development Prospects Group at the World Bank
Downloads 234 (104,710)
Citation 11

Abstract:

Thresholds in the Process of International Financial Integration

World Bank Policy Research Working Paper No. 5149
Number of pages: 43 Posted: 20 Apr 2016
M. Ayhan Kose, Eswar S. Prasad and Ashley D. Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and World Bank
Downloads 106 (218,439)
Citation 18

Abstract:

Debt Markets, Economic Theory & Research, Currencies and Exchange Rates, Emerging Markets, Achieving Shared Growth

Thresholds in the Process of International Financial Integration

IZA Discussion Paper No. 4133
Number of pages: 51 Posted: 28 Apr 2009
M. Ayhan Kose, Eswar S. Prasad and Ashley Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and London School of Economics & Political Science (LSE)
Downloads 60 (309,782)
Citation 18

Abstract:

financial openness, capital account liberalization, growth, threshold conditions, financial development, institutions, macroeconomic policies

Thresholds in the Process of International Financial Integration

Brookings Global Economy and Development Working Paper No. 35
Number of pages: 46 Posted: 31 May 2009
Eswar S. Prasad, M. Ayhan Kose and Ashley D. Taylor
Cornell University - Dyson School of Applied Economics and Management, Development Prospects Group at the World Bank and World Bank
Downloads 36 (387,904)
Citation 18

Abstract:

international finance, developing countries, financial institutions, global economics

Thresholds in the Process of International Financial Integration

NBER Working Paper No. w14916
Number of pages: 50 Posted: 29 Apr 2009 Last Revised: 05 May 2009
M. Ayhan Kose, Eswar S. Prasad and Ashley D. Taylor
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and World Bank
Downloads 29 (418,279)
Citation 18

Abstract:

16.

How Has NAFTA Affected the Mexican Economy? Review and Evidence

IMF Working Paper No. 04/59
Number of pages: 49 Posted: 15 Feb 2006
M. Ayhan Kose, Guy Meredith and Christopher Towe
Development Prospects Group at the World Bank, International Monetary Fund (IMF) - Research Department and affiliation not provided to SSRN
Downloads 226 (110,688)
Citation 12

Abstract:

NAFTA, Mexico, Growth, Trade, Regional Trade, Business Cycles

Does Openness to International Financial Flows Raise Productivity Growth?

Brookings Global Economy and Development Working Paper No. 32
Number of pages: 46 Posted: 23 Jan 2009
Eswar S. Prasad, Marco E. Terrones and M. Ayhan Kose
Cornell University - Dyson School of Applied Economics and Management, International Monetary Fund (IMF) and Development Prospects Group at the World Bank
Downloads 101 (226,077)
Citation 20

Abstract:

global economics, financial markets, economic development, globalization, financial openness

Does Openness to International Financial Flows Raise Productivity Growth?

IMF Working Paper No. 08/242
Number of pages: 41 Posted: 18 Dec 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 90 (244,509)
Citation 20

Abstract:

Capital flows, Productivity, Production growth, Capital account, Foreign direct investment, Development, Debt, Economic models

Does Openness to International Financial Flows Raise Productivity Growth?

NBER Working Paper No. w14558
Number of pages: 45 Posted: 15 Jan 2009 Last Revised: 17 Mar 2010
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 26 (433,508)
Citation 20

Abstract:

18.

Can World Real Interest Rates Explain Business Cycles in a Small Open Economy?

FRB of New York Staff Report No. 94
Number of pages: 27 Posted: 20 Feb 2000
William F. Blankenau, M. Ayhan Kose and Kei-Mu Yi
Kansas State University - Department of Economics, Development Prospects Group at the World Bank and Federal Reserve Bank of Philadelphia
Downloads 216 (113,599)
Citation 19

Abstract:

world interest rates, business cycles, dynamic stochastic general equilibrium models, small open economy

19.
Downloads 212 (121,547)
Citation 4

Regionalization vs. Globalization

CAMA Working Paper 09/2013
Number of pages: 64 Posted: 19 Jul 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 129 (188,218)
Citation 4

Abstract:

Business cycles, Comovement, Synchronization, Trade linkages, Financial linkages

Regionalization vs. Globalization

IMF Working Paper No. 13/19
Number of pages: 66 Posted: 22 Feb 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 42 (365,303)
Citation 4

Abstract:

Bilateral trade, Business cycles, Comovement, Cross country analysis, Economic models, Financial linkages, Globalization, Synchronization, Time series, Trade linkages

Regionalization vs. Globalization

FRB of St. Louis Working Paper No. 2013-002A
Number of pages: 67 Posted: 08 Jan 2013
Hideaki Hirata, M. Ayhan Kose and Christopher Otrok
Hosei University, Development Prospects Group at the World Bank and University of Missouri
Downloads 41 (368,825)
Citation 4

Abstract:

business cycles, comovement, synchronization, trade linkages, financial linkages

20.
Downloads 209 (123,192)
Citation 16

Financial Cycles: What? How? When?

IMF Working Paper No. 11/76
Number of pages: 41 Posted: 13 Apr 2011
affiliation not provided to SSRN, Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 202 (126,929)
Citation 16

Abstract:

Business cycles, Capital markets, Credit, Demand, Developed countries, Housing prices, Stock prices

Financial Cycles: What? How? When?

CEPR Discussion Paper No. DP8379
Number of pages: 43 Posted: 19 May 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 7 (542,136)
Citation 16
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Abstract:

asset busts, credit booms, credit cycles, crunches, equity prices, house prices

21.

Trade Shocks and Macroeconomic Fluctuations in Africa

CESifo Working Paper Series No. 203
Number of pages: 46 Posted: 18 Nov 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 203 (121,005)
Citation 21

Abstract:

Trade shocks, dynamic stochastic quantitative trade model, African economies

22.

The Global Financial Crisis: How Similar? How Different? How Costly?

Number of pages: 34 Posted: 23 Mar 2010
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 183 (122,073)
Citation 4

Abstract:

Global financial crisis, Similarities, Differences, Cost, Recessions

23.

Understanding the Evolution of World Business Cycles

IMF Working Paper No. 05/211
Number of pages: 36 Posted: 03 Mar 2006
Development Prospects Group at the World Bank, University of Missouri and Pennsylvania State University - Smeal College of Business
Downloads 182 (135,324)
Citation 56

Abstract:

International business cycles, globalization, transmission of macroeconomic fluctuations

24.

How do Trade and Financial Integration Affect the Relationship between Growth and Volatility

IZA Discussion Paper No. 2252, IMF Working Paper No. 05/19, FRB of San Francisco Working Paper No. 2004-29
Number of pages: 44 Posted: 08 Sep 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 167 (143,743)
Citation 60

Abstract:

globalization, international trade and financial linkages, macroeconomic

Negative Interest Rate Policies: Sources and Implications

CAMA Working Paper No. 52/2016
Number of pages: 73 Posted: 25 Aug 2016
World Bank, Development Prospects Group, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 54 (326,768)

Abstract:

Unconventional Monetary Policy, Quantitative Easing; Bank Profitability, Financial Stability, Negative Yields, Event Study, Emerging Markets, Developing Countries

26.

The Trade Comovement Problem in International Macroeconomics

FRB of New York Staff Report No. 155
Number of pages: 30 Posted: 04 Apr 2003
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and Federal Reserve Bank of Philadelphia
Downloads 162 (132,066)
Citation 16

Abstract:

international trade, international business cycles, comovement, stochastic dynamic business cycle model, synchronization

Slowdown in Emerging Markets: Rough Patch or Prolonged Weakness?

CAMA Working Paper 1/2016
Number of pages: 67 Posted: 14 Jan 2016 Last Revised: 22 Jan 2016
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 157 (159,809)

Abstract:

Emerging markets, growth slowdown, policy space, monetary policy, fiscal policy, structural reforms

Does Openness to International Financial Flows Contribute to Productivity Growth?

Number of pages: 44 Posted: 22 Jul 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 83 (257,523)
Citation 18

Abstract:

Financial opennes, capital account liberalization, capital flows, external assets and liabilities, foreign direct investment, portfolio equity, debt, total factor productivity

Does Openness to International Financial Flows Contribute to Productivity Growth?

IZA Discussion Paper No. 3634
Number of pages: 46 Posted: 11 Aug 2008
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 75 (273,899)
Citation 18

Abstract:

financial openness, capital account liberalization, capital flows, external assets and liabilities, foreign direct investment, portfolio equity, debt, total factor productivity

Can the Standard International Business Cycle Model Explain the Relation Between Trade and Comovement?

IMF Working Paper No. 05/204
Number of pages: 40 Posted: 03 Mar 2006
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and Federal Reserve Bank of Philadelphia
Downloads 82 (259,459)
Citation 32

Abstract:

international trade, international business cycle comovement

Can the Standard International Business Cycle Model Explain the Relation between Trade and Comovement?

FRB Philadelphia Working Paper No. 05-3
Number of pages: 39 Posted: 16 May 2005
M. Ayhan Kose and Kei-Mu Yi
Development Prospects Group at the World Bank and Federal Reserve Bank of Philadelphia
Downloads 64 (299,499)
Citation 32

Abstract:

International trade, International business cycle comovement

Challenges of Fiscal Policy in Emerging and Developing Economies

CAMA Working Paper No. 34/2016
Number of pages: 37 Posted: 16 Jun 2016
Raju Huidrom, M. Ayhan Kose and Franziska Ohnsorge
World Bank, Development Prospects Group at the World Bank and World Bank
Downloads 97 (232,483)

Abstract:

Fiscal Space, Fiscal Policy, Developing Economies, Growth Slowdown, Fiscal Rules, Stabilization Funds, Expenditure Frameworks

31.

Small Countries and Preferential Trade Agreements 'How severe is the innocent bystander problem?'

CESifo Working Paper Series No. 253
Number of pages: 30 Posted: 22 Jun 2000
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 132 (177,745)
Citation 2

Abstract:

Globalization, the Business Cycle, and Macroeconomic Monitoring

IMF Working Paper No. 11/25
Number of pages: 53 Posted: 07 Feb 2011
Development Prospects Group at the World Bank, University of Maryland - Department of Economics, International Monetary Fund (IMF) and University of Pennsylvania - Department of Economics
Downloads 99 (229,283)
Citation 2

Abstract:

Business cycles, Cross country analysis, Globalization, Group of seven

Globalization, the Business Cycle, and Macroeconomic Monitoring

NBER Working Paper No. w16264
Number of pages: 52 Posted: 16 Aug 2010
University of Maryland - Department of Economics, University of Pennsylvania - Department of Economics, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 24 (444,607)
Citation 2

Abstract:

Capital Inflows: Macroeconomic Implications and Policy Responses

IMF Working Paper No. 09/40
Number of pages: 62 Posted: 23 Mar 2009
International Monetary Fund (IMF), International Monetary Fund (IMF) - Policy Development and Review Department and Development Prospects Group at the World Bank
Downloads 114 (207,130)
Citation 9

Abstract:

Working Papers

Capital Inflows: Macroeconomic Implications and Policy Responses

Economic Systems, Vol. 34, No. 4, 2010
Posted: 30 Jul 2011
International Monetary Fund (IMF), International Monetary Fund (IMF) - Policy Development and Review Department and Development Prospects Group at the World Bank

Abstract:

Capital inflows, Sudden stops, Crises, Sterilization, Capital controls

34.

Sources of Fluctuations: The Case of MENA

Number of pages: 30 Posted: 05 Oct 2005
Hideaki Hirata, M. Ayhan Kose and Sunghyun Henry Kim
Hosei University, Development Prospects Group at the World Bank and Sungkyunkwan University - Department of Economics
Downloads 111 (198,378)
Citation 1

Abstract:

MENA, business cycles, macroeconomic fluctuations, globalization, emerging markets

How Different is the Cyclical Behavior of Home Production Across Countries?

Number of pages: 30 Posted: 29 Jan 2002
William F. Blankenau and M. Ayhan Kose
Kansas State University - Department of Economics and Development Prospects Group at the World Bank
Downloads 58 (315,290)
Citation 1

Abstract:

Business cycles, dynamic stochastic general equilibrium, open economy, labor hours

How Different is the Cyclical Behavior of Home Production Across Countries?

IMF Working Paper No. 06/46
Number of pages: 32 Posted: 23 Mar 2006
William F. Blankenau and M. Ayhan Kose
Kansas State University - Department of Economics and Development Prospects Group at the World Bank
Downloads 43 (361,776)
Citation 1

Abstract:

Business cycles, home (non-market), production, general equilibrium

36.

How Do Business and Financial Cycles Interact?

IMF Working Paper No. 11/88
Number of pages: 55 Posted: 26 Apr 2011
affiliation not provided to SSRN, Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 92 (223,283)
Citation 16

Abstract:

Business cycles, Economic models, Economic recession, Economic recovery, Financial sector, Fiscal policy, Monetary policy

37.

Volatility and Comovement in a Globalized World Economy An Empirical Exploration

IMF Working Paper No. 03/246
Number of pages: 38 Posted: 15 Feb 2006
M. Ayhan Kose, Eswar S. Prasad and Marco E. Terrones
Development Prospects Group at the World Bank, Cornell University - Dyson School of Applied Economics and Management and International Monetary Fund (IMF)
Downloads 90 (218,785)
Citation 19

Abstract:

Business cycles macroeconomic fluctuations volatility correlations globalization

Global House Price Fluctuations: Synchronization and Determinants

IMF Working Paper No. 13/38
Number of pages: 48 Posted: 22 Feb 2013
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 57 (318,042)
Citation 1

Abstract:

Asset prices, Business cycles, Developed countries, Housing prices, Time series, business cycles, central bank, contractionary monetary policy, exchange rates, financial cycles, financial integration, financial intermediation, financial markets, global financial crisis, global financial markets, global liquidity, global real estate, globalization, globalization period, globalization periods, inflation, interest rates, international financial, international financial markets, long-term interest rates, monetary economics, monetary fund, monetary policy, monetary policy decisions, monetary shock, monetary shocks, transmission of monetary policy

Global House Price Fluctuations: Synchronization and Determinants

CAMA Working Paper 07/2013
Number of pages: 46 Posted: 19 Jul 2013
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 20 (467,631)
Citation 1

Abstract:

Monetary policy, interest rates, business cycles, financial cycles

Global House Price Fluctuations: Synchronization and Determinants

NBER Working Paper No. w18362
Number of pages: 44 Posted: 08 Sep 2012
Hosei University, Development Prospects Group at the World Bank, University of Missouri and International Monetary Fund (IMF)
Downloads 8 (536,775)
Citation 1

Abstract:

Do Fiscal Multipliers Depend on Fiscal Positions?

CAMA Working Paper No. 35/2016
Number of pages: 39 Posted: 16 Jun 2016
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 20 (467,631)

Abstract:

Fiscal Multipliers, Fiscal Position, State-Dependency, Ricardian Channel, Interest Rate Channel, Business Cycle

40.

Economic Integration, Business Cycle, and Productivity in North America

IMF Working Paper No. 04/138
Number of pages: 47 Posted: 15 Feb 2006
M. Ayhan Kose
Development Prospects Group at the World Bank
Downloads 72 (255,293)
Citation 2

Abstract:

Canada, United States, Business cycles, Productivity, NAFTA, CUSFTA, Regional Trade

41.

Emerging Markets Come of Age

Finance and Development, p. 7, December 2010
Number of pages: 5 Posted: 18 Dec 2010
M. Ayhan Kose and Eswar S. Prasad
Development Prospects Group at the World Bank and Cornell University - Dyson School of Applied Economics and Management
Downloads 70 (240,920)

Abstract:

Financial Globalization, Growth and Volatility in Developing Countries

CEPR Discussion Paper No. 4772
Number of pages: 70 Posted: 15 Feb 2005
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Columbia Business School - Finance and Economics and Development Prospects Group at the World Bank
Downloads 36 (387,904)
Citation 24
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Abstract:

Globalization, international financial linkages, macroeconomic volatility, growth

Financial Globalization, Growth and Volatility in Developing Countries

NBER Working Paper No. w10942
Number of pages: 69 Posted: 26 May 2012
Cornell University - Dyson School of Applied Economics and Management, Harvard University - Department of Economics, Columbia Business School - Finance and Economics and Development Prospects Group at the World Bank
Downloads 33 (400,264)
Citation 24

Abstract:

43.

Do Credit Shocks Matter? A Global Perspective

IMF Working Paper No. 10/261
Number of pages: 38 Posted: 01 Feb 2011
International Monetary Fund (IMF) - Middle East and Central Asia Department, affiliation not provided to SSRN, Development Prospects Group at the World Bank and University of Missouri
Downloads 48 (313,600)
Citation 8

Abstract:

Business cycles, Capital markets, Credit, Cross country analysis, Economic models, Economic recession, External shocks, Group of seven, Time series, United States

44.

Recessions and Financial Disruptions in Emerging Markets: A Bird's Eye View

Central Bank of Chile Working Paper No. 585
Number of pages: 53 Posted: 17 Jul 2010
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 42 (305,742)

Abstract:

Business cycles, Emerging Markets, Recessions, Financial Disruptions

How Important are Spillovers from Major Emerging Markets?

CAMA Working Paper No. 37/2017
Number of pages: 31 Posted: 09 May 2017
Raju Huidrom, M. Ayhan Kose and Franziska Ohnsorge
World Bank, Development Prospects Group at the World Bank and World Bank
Downloads 14 (502,793)

Abstract:

Business cycles, spillovers, external shocks, China, EM7, G7

46.

The Great Plunge in Oil Prices: Causes, Consequences, and Policy Responses

Number of pages: 62 Posted: 30 Jun 2015
World Bank, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 40 (23,661)

Abstract:

commodity prices, 2014 oil price decline, macroeconomic implications, supply factors, demand factors, unconventional oil production, global output, and global inflation

How Does the Sensitivity of Consumption to Income Vary Over Time? International Evidence

World Bank Policy Research Working Paper No. 7659
Number of pages: 27 Posted: 17 May 2016
Ergys Islamaj and M. Ayhan Kose
World Bank and Development Prospects Group at the World Bank
Downloads 25 (439,064)

Abstract:

Consumption, Debt Markets, Inequality, Economic Theory & Research, Emerging Markets

How Does the Sensitivity of Consumption to Income Vary Over Time? International Evidence

CAMA Working Paper No. 22/2016
Number of pages: 27 Posted: 04 May 2016
Ergys Islamaj and M. Ayhan Kose
World Bank and Development Prospects Group at the World Bank
Downloads 8 (536,775)

Abstract:

Consumption Sensitivity, Financial Integration, Risk Sharing, Intertemporal Smoothing

48.

Gyrations in Financial Markets

Number of pages: 29 Posted: 16 Jul 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 31 (368,745)

Abstract:

49.

What are the Driving Forces of International Business Cycles?

NBER Working Paper No. w14380
Number of pages: 41 Posted: 08 Oct 2008 Last Revised: 03 Nov 2010
Mario J. Crucini, M. Ayhan Kose and Christopher Otrok
Vanderbilt University - College of Arts and Science - Department of Economics, Development Prospects Group at the World Bank and University of Missouri
Downloads 28 (387,082)
Citation 13

Abstract:

50.

Understanding the Welfare Implications of Preferential Trade Agreements

Review of International Economics, Vol. 8, pp. 619-633, November 2000
Number of pages: 15 Posted: 01 Jul 2004
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 28 (412,071)
Citation 10
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Abstract:

51.

Small Countries and Preferential Trade Agreements: How Severe is the Innocent Bystander Problem?

Pacific Economic Review, Vol. 7, pp. 279-304, 2002
Number of pages: 26 Posted: 15 Feb 2003
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics
Downloads 26 (421,499)
Citation 2
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Abstract:

52.

How Do Business and Financial Cycles Interact?

CEPR Discussion Paper No. DP8396
Number of pages: 55 Posted: 26 May 2011
Stijn Claessens, M. Ayhan Kose and Marco E. Terrones
Bank for International Settlements, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 6 (523,337)
Citation 16
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Abstract:

asset busts, booms, credit crunches, financial crises, recessions, recoveries

53.

Crises: Yesterday and Today — 1

IMF Economic Review, Vol. 62, Issue 4, pp. 465-469, 2014
Number of pages: 5 Posted: 29 Dec 2014
Pierre-Olivier Gourinchas and M. Ayhan Kose
University of California, Berkeley - Department of Economics and Development Prospects Group at the World Bank
Downloads 1 (554,999)
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Abstract:

54.

Monetary and Macroprudential Policies

IMF Economic Review, Vol. 60, Issue 2, pp. 151-154, 2012
Number of pages: 4 Posted: 30 Jun 2012
University of California, Berkeley - Department of Economics, Development Prospects Group at the World Bank and Bank for International Settlements
Downloads 1 (554,999)
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Abstract:

55.

Economic Linkages, Spillovers, and the Financial Crisis—1

IMF Economic Review, Vol. 58, Issue 2, pp. 209-213, 2010
Number of pages: 5 Posted: 13 Dec 2010
Pierre-Olivier Gourinchas and M. Ayhan Kose
University of California, Berkeley - Department of Economics and Development Prospects Group at the World Bank
Downloads 1 (554,999)
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Abstract:

56.

Frontiers of Research on Financial Globalization

IMF Staff Papers, Vol. 56, Issue 1, pp. 1-7, 2009
Number of pages: 7 Posted: 07 Jun 2010
M. Ayhan Kose
Development Prospects Group at the World Bank
Downloads 1 (554,999)
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Abstract:

57.

A Cross-Country Database of Fiscal Space

CAMA Working Paper No. 48/2017
Number of pages: 48 Posted: 04 Aug 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 0 (523,337)

Abstract:

Fiscal policy, sovereign debt, fiscal deficit, private debt, financial crises, oil prices.

58.

Weakness in Investment Growth: Causes, Implications and Policy Responses

CAMA Working Paper No. 19/2017
Number of pages: 75 Posted: 08 Mar 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 0 (403,206)

Abstract:

emerging markets, developing economies, investment slowdown, policy space, infrastructure investment, monetary policy, fiscal policy, structural reforms

59.

The Global Role of the U.S. Economy: Linkages, Policies and Spillovers

CAMA Working Paper No. 13/2017
Number of pages: 36 Posted: 10 Feb 2017
Development Prospects Group at the World Bank, World Bank, World Bank and World Bank
Downloads 0 (310,985)

Abstract:

United States, Uncertainty, Trade, Business Cycles, Global Economy

60.

Remittances Over the Business Cycle: Theory and Evidence

CAMA Working Paper No. 13/2016
Number of pages: 35 Posted: 30 Mar 2016
World Bank, World Bank, Development Prospects Group at the World Bank and International Monetary Fund (IMF)
Downloads 0 (291,149)

Abstract:

remittances, business cycles, acyclical, sudden stops, risk sharing

61.

Specification and Estimation of Bayesian Dynamic Factor Models: A Monte Carlo Analysis with an Application to Global House Price Comovement

FRB St. Louis Working Paper No. 2015-31
Number of pages: 46 Posted: 20 Oct 2015
Bentley University, Development Prospects Group at the World Bank, University of Missouri and Federal Reserve Bank of St. Louis - Research Division
Downloads 0 (412,071)

Abstract:

principal components, Kalman filter, data augmentation, business cycles

62.

The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

CAMA Working Paper No. 37/2015
Number of pages: 71 Posted: 12 Oct 2015 Last Revised: 13 Oct 2015
World Bank, Development Prospects Group, Development Prospects Group at the World Bank, World Bank and World Bank
Downloads 0 (255,293)

Abstract:

Federal Reserve, liftoff, tightening, interest rates, monetary policy, emerging markets, frontier markets, capital flows, sudden stops, crises

63.

Crises: Yesterday and Today — 2

IMF Economic Review, Vol. 63, Issue 1, pp. 1-7, 2015
Number of pages: 7 Posted: 29 May 2015
Pierre-Olivier Gourinchas and M. Ayhan Kose
University of California, Berkeley - Department of Economics and Development Prospects Group at the World Bank
Downloads 0 (569,319)
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Abstract:

64.

Asia: Challenges of Stability and Growth

IMF Economic Review, Vol. 62, Issue 3, pp. 323-326, 2014
Number of pages: 4 Posted: 24 Oct 2014
Pierre-Olivier Gourinchas and M. Ayhan Kose
University of California, Berkeley - Department of Economics and Development Prospects Group at the World Bank
Downloads 0 (554,999)
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Abstract:

65.

From the Global to the National Cycle: An Intricate Liaison

Pacific Economic Review, Vol. 18, Issue 3, pp. 370-402, 2013
Number of pages: 33 Posted: 06 Aug 2013
M. Ayhan Kose, Prakash Loungani and Marco E. Terrones
Development Prospects Group at the World Bank, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 0 (569,319)
Citation 1
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Abstract:

66.

Integration and Fluctuations: The Case of MENA

Emerging Markets Finance and Trade, Vol. 40, No. 6, pp. 48-67, November-December 2004
Posted: 18 Oct 2005
Hideaki Hirata, Sunghyun Henry Kim and M. Ayhan Kose
Hosei University, Sungkyunkwan University - Department of Economics and Development Prospects Group at the World Bank

Abstract:

Business cycles, globalization, macroeconomic fluctuations, MENA

67.

Explaining Business Cycles in Small Open Economies: How Much Do World Prices Matter?

Posted: 11 Sep 1998
M. Ayhan Kose
Development Prospects Group at the World Bank

Abstract:

68.

Understanding the Welfare Implications of "Preferential Trade Agreements"

Posted: 06 Aug 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics

Abstract:

69.

External Shocks and Economic Dynamics: The Case of African Countries

University of Iowa Working Paper No. 155
Posted: 08 May 1998
M. Ayhan Kose and Raymond G. Riezman
Development Prospects Group at the World Bank and University of Iowa - Henry B. Tippie College of Business - Department of Economics

Abstract: